Perm: Best In Show Again

Newcastle Herald

Wednesday June 4, 2008

GREG WENDT BUSINESS EDITOR - with AAP

HUNTER financial institution Newcastle Permanent has been named Money magazine's building society of the year for the second consecutive year.

Newcastle Permanent chief executive officer Stephen Porges said the award acknowledged the quality and strength of the business.

"Receiving this award back-to-back validates our belief that a regionally based mutual can deliver products and services to match or better any financial institution in Australia," Mr Porges said.

The Newcastle Permanent has more than $6 billion in assets.

Mr Porges said the Permanent was proud of the commitment of its staff.

Each year the awards are determined on the basis of information provided by independent analyst Cannex.

Every Australian financial institution is assessed on its range of products and services with honours awarded across three categories: banks, building societies and credit unions.

Money named the Commonwealth Bank bank of the year, in front of ANZ, Suncorp, Westpac and NAB.

Money's editor Pam Walkley said the awards were consumer-driven.

"We look at it from the consumer's point of view," she said.

"We realise a lot of people don't like the banks much and get angry with the banks and that is understandable.

"But these awards try and improve banks, try and actually make them think about the consumer and improve their product range."

Westpac was named most socially responsible bank and ANZ won the home lender of the year award. with AAP

© 2008 Newcastle Herald

Back to News Index | Back to Home